Charlton Athletic have become the first Belgian owned club in English football with reports that that the takeover by Walloon millionaire Roland Duchatelet has been completed. With no news for some days, Addicks fans had been concerned that the deal had fallen through, but reports of another bidder may have concentrated minds.
However, the price is understood to be £20m not the £14m originally reported. Duchatelet, who made his money in microelectronics, already owns Standard Liege as well as clubs in Germany and Hungary.
Charlton Athletic have become the first Belgian owned club in English football with reports that that the takeover by Walloon millionaire Roland Duchatelet has been completed. With no news for some days, Addicks fans had been concerned that the deal had fallen through, but reports of another bidder may have concentrated minds.
However, the price is understood to be £20m not the £14m originally reported. Duchatelet, who made his money in microelectronics, already owns Standard Liege as well as clubs in Germany and Hungary.
The new owner will acquire significant debts, although some of them only have to be met if the Royal Borough of Greenwich club is promoted to the Premier League. The club has also been losing around £8m a year and will need significant investment in players (and the pitch) if it is to pull away from a relegation threat and compete for promotion in the future.
Charlton manager Chris Powell, now the longest serving manager in the Championship, has expressed some nervousness about his future at the club.